Caeneus Minerals : Exploration Update + Lithium Brine Projects

Caeneus Minerals Limited (ASX: ìCADî or ìthe Company) is pleased to provide the following exploration update on its 100% owned Lithium Brine Projects in Nevada, USA.

As announced previously (ASX Announcement dated 24 July 2017), drilling of the first two holes (LV17-2 & LV17-

4) at Lida Valley as part of the Phase One Drilling program has been completed and samples have been despatched for analysis. These assay results will be released as soon they become available.

The Phase One Drilling program (SS-1 & SS-4 ñ refer ASX Announcement dated 14 June 2017) at the Scottyís South Project has been terminated due to difficulties drilling the soft and collapsing ground. No samples could be obtained from the limited amount of drilling that was completed. Consequently, Scottyís South has been placed on hold pending an analysis of alternative measures. The Company is researching the best approach to working at Scottyís South Project as part of future drilling campaigns.

With the drilling program at the Scottyís South Project suspended indefinitely the drilling rig has moved to the Columbus Marsh Project. The Company is highly encouraged by the potential at Columbus Marsh, and notes the significance of the local epithermal systems. Given the soft ground conditions, extensive preparation is taking place at Columbus Marsh to ensure the surface is better prepared to complete the Phase One Drilling Program (CSM-1 ñ refer ASX Announcement 24 July 2017).

For and on behalf of the Board

Steve Elliott

The information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Steven Elliott who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Elliott is a director of the Company. Mr Elliott has sufficient experience which is relevant to the style and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves. Mr Elliott consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.